Ceva, Inc. AND ITS SUBSIDIARIES

INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS

(U.S. Dollars in thousands)

June 30,

December 31,

2024

2023 (*)

Unaudited

Unaudited

ASSETS

Current assets:

Cash and cash equivalents

$  24,702

$  23,287

Marketable securities and short-term bank deposits

133,709

143,251

Trade receivables, net

18,298

8,433

Unbilled receivables

17,357

21,874

Prepaid expenses and other current assets

13,201

12,526

Total current assets

207,267

209,371

Long-term assets:

Severance pay fund

6,762

7,070

Deferred tax assets, net

1,317

1,609

Property and equipment, net

6,843

6,732

Operating lease right-of-use assets

6,137

6,978

Investment in marketable equity securities

288

406

Goodwill

58,308

58,308

Intangible assets, net

2,411

2,967

Other long-term assets

11,069

10,644

Total assets

$  300,402

$  304,085

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:

Trade payables

$  1,092

$  1,154

Deferred revenues

2,830

3,018

Accrued expenses and other payables

18,445

20,202

Operating lease liabilities

2,615

2,513

Total current liabilities

24,982

26,887

Long-term liabilities:

     Accrued severance pay

7,210

7,524

Operating lease liabilities

2,964

3,943

Other accrued liabilities

1,460

1,390

Total liabilities

36,616

39,744

Stockholders' equity:

Common stock

24

23

Additional paid in-capital

254,302

252,100

Treasury stock

(1,917)

(5,620)

Accumulated other comprehensive loss

(2,894)

(2,329)

Retained earnings

14,271

20,167

Total stockholders' equity

263,786

264,341

Total liabilities and stockholders' equity

$  300,402

$  304,085

(*) Derived from audited financial statements.